By Wendy Van Sickle
Columbus, Ohio, April 3 – Credit Suisse AG, London Branch priced $3.08 million of contingent coupon autocallable yield notes due Sept. 30, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 7.45% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any observation date beginning Sept. 25, 2018.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its 70% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $3.08 million
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| Maturity: | Sept. 30, 2019
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| Coupon: | 7.45% per year, payable quarterly if each index closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its initial level and either closes below its knock-in level during life of notes, in which case full exposure to any losses of the lesser-performing index
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| Call: | At par if each index closes above initial level on any observation date beginning Sept. 25, 2018
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| Initial levels: | 1,543.717 for Russell and 2,658.55 for S&P
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| Barriers/knock-in levels: | 1,080.6019 for Russell and 1,860.985 for S&P; 70% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.125%
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| Cusip: | 22550WFS1
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